DOCTOREL
ActiveSummary
DOCTOREL has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €406k and a net result of €115k. Equity is growing by ~16.5% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability92▲+5
Solvency90▼-3
Growth78=
Track record100
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30k at 30 days acceptable
Liquidity ample (current ratio 4.39 against 7.85 in 2024; short-term debt: 17% and cash: 42.6% of total assets), and 35.2% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
64.8%
Return on assets
18.3%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 31-01-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
1 d early
2023
19 d early
2022
21 d early
2021
21 d early
2020
40 d early
2019
3 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close25-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€406k▲ 8.6%
2024 · €374k
2019: €186klowest in 7 years
2020: €190k▲ +1.7% vs 2019
2021: €216k▲ +14.0% vs 2020
2022: €263k▲ +21.7% vs 2021
2023: €312k▲ +18.4% vs 2022
2024: €374k▲ +20.1% vs 2023
2025: €406k▲ +8.6% vs 2024highest in 7 years
2019 → 2025
Total assets
€627k▲ 13.4%
2024 · €553k
2019: €399k
2020: €391k▼ -2.0% vs 2019
2021: €383k▼ -1.9% vs 2020lowest in 7 years
2022: €410k▲ +6.9% vs 2021
2023: €469k▲ +14.3% vs 2022
2024: €553k▲ +17.9% vs 2023
2025: €627k▲ +13.4% vs 2024highest in 7 years
2019 → 2025
Net result
€115k▲ 41.2%
2024 · €81k
2019: €20k
2020: €19k▼ -6.9% vs 2019lowest in 7 years
2021: €27k▲ +39.8% vs 2020
2022: €47k▲ +76.8% vs 2021
2023: €56k▲ +18.4% vs 2022
2024: €81k▲ +46.1% vs 2023
2025: €115k▲ +41.2% vs 2024highest in 7 years
2019 → 2025
Working capital
€361k▲ 13.4%
2024 · €318k
2019: €172klowest in 7 years
2020: €188k▲ +9.6% vs 2019
2021: €224k▲ +18.8% vs 2020
2022: €262k▲ +16.9% vs 2021
2023: €277k▲ +5.7% vs 2022
2024: €318k▲ +15.0% vs 2023
2025: €361k▲ +13.4% vs 2024highest in 7 years
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€216k-€263k▲ 21.7%€312k▲ 18.4%€374k▲ 20.1%€406k▲ 8.6%
2021: €216klowest in 5 years
2022: €263k▲ +21.7% vs 2021
2023: €312k▲ +18.4% vs 2022
2024: €374k▲ +20.1% vs 2023
2025: €406k▲ +8.6% vs 2024highest in 5 years
Operating result€41k-€71k▲ 71.7%€80k▲ 12.5%€105k▲ 31.7%€162k▲ 53.6%
2021: €41klowest in 5 years
2022: €71k▲ +71.7% vs 2021
2023: €80k▲ +12.5% vs 2022
2024: €105k▲ +31.7% vs 2023
2025: €162k▲ +53.6% vs 2024highest in 5 years
Net result€27k-€47k▲ 76.8%€56k▲ 18.4%€81k▲ 46.1%€115k▲ 41.2%
2021: €27klowest in 5 years
2022: €47k▲ +76.8% vs 2021
2023: €56k▲ +18.4% vs 2022
2024: €81k▲ +46.1% vs 2023
2025: €115k▲ +41.2% vs 2024highest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 54% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €627k
Fixed assets
€159k ▼ 15.3%
Current assets
€467k ▲ 28.2%
Equity and liabilities €627k
Equity
€406k ▲ 8.6%
Debt
€220k ▲ 23.6%
Debt's share of the balance-sheet total rises from 32.3% to 35.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€195k▲
2024 · €130k
Cash flow
€148k▲
2024 · €106k
Current ratio
4.39▼
2024 · 7.85
Debt to equity
0.54▲
2024 · 0.48
ROE
28.2%▲
2024 · 21.7%
ROA
18.3%▲
2024 · 14.7%
Interest coverage
37.59▲
2024 · 30.16
Debt ≤ 1 year
€107k▲
2024 · €46k
Debt > 1 year
€113k▼
2024 · €132k
Income taxes
€48k▲
2024 · €28k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 52 lines
Balance sheet
Code20242025
Assets
Total assets20/58€553k€627k▲
Fixed assets21/28€188k€159k▼
Tangible fixed assets22/27€187k€159k▼
Land and buildings22€93k€85k▼
Plant, machinery and equipment23€5k€4k▼
Furniture and vehicles24€88k€71k▼
Financial fixed assets28€1k-
Current assets29/58€365k€467k▲
Amounts receivable within one year40/41€4k€54k▲
Trade receivables40€1k€54k▲
Other amounts receivable41€2k-
Current investments50/53€157k€140k▼
Cash at bank and in hand54/58€202k€267k▲
Deferred charges and accrued income490/1€2k€6k▲
Equity and liabilities
Total equity and liabilities10/49€553k€627k▲
Equity10/15€374k€406k▲
Contributions10/11€19k€19k=
Reserves13€344k€376k▲
Distributable reserves133€344k€376k▲
Profit (loss) carried forward14€12k€12k▲
Amounts payable17/49€178k€220k▲
Amounts payable after more than one year17€132k€113k▼
Financial debts170/4€132k€113k▼
Amounts payable within one year42/48€46k€107k▲
Current portion of amounts payable after more than one year42€22k€19k▼
Trade debts44€2k€1k▼
Suppliers440/4€2k€1k▼
Taxes, remuneration and social security45-€3k
Taxes450/3-€3k
Other amounts payable47/48€22k€83k▲
Accrued charges and deferred income492/3-€531
Income statement
Code20242025
Non-recurring operating income76A€15k-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€25k€33k▲
Other operating charges640/8€8k€4k▼
Gross operating margin9900€138k€199k▲
Operating profit (loss)9901€105k€162k▲
Financial income75/76B€8k€6k▼
Recurring financial income75€2k€6k▲
Non-recurring financial income76B€6k-
Financial charges65/66B€4k€5k▲
Recurring financial charges65€4k€5k▲
Profit (loss) for the period before taxes9903€109k€163k▲
Income taxes67/77€28k€48k▲
Profit (loss) for the period9904€81k€115k▲
Profit (loss) for the period to be appropriated9905€81k€115k▲
Appropriation of the result
Profit (loss) to be appropriated9906€92k€126k▲
Profit (loss) brought forward from the previous period14P€11k€12k▲
Transfer from equity791/2€18k€82k▲
Transfer to equity691/2€80k€115k▲
To other reserves6921€80k€115k▲
Profit to be distributed694/7€18k€82k▲
Return on contributions (dividend)694€18k€82k▲
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €15k | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €29k | €12k | €13k | €25k | €33k | ▲ 33.5% |
| Other operating charges640/8 | - | €2k | €2k | €8k | €4k | ▼ 46.9% |
| Gross operating margin9900 | €72k | €86k | €95k | €138k | €199k | ▲ 44.3% |
| Operating profit (loss)9901 | €41k | €71k | €80k | €105k | €162k | ▲ 53.6% |
| Financial income75/76B | - | €569 | €1k | €8k | €6k | ▼ 24.7% |
| Recurring financial income75 | €1k | €569 | €1k | €2k | €6k | ▲ 186% |
| Non-recurring financial income76B | - | - | - | €6k | - | - |
| Financial charges65/66B | - | €5k | €4k | €4k | €5k | ▲ 20.1% |
| Recurring financial charges65 | €4k | €5k | €4k | €4k | €5k | ▲ 20.1% |
| Profit (loss) for the period before taxes9903 | €39k | €67k | €78k | €109k | €163k | ▲ 49.0% |
| Income taxes67/77 | €12k | €20k | €22k | €28k | €48k | ▲ 71.1% |
| Profit (loss) for the period9904 | €27k | €47k | €56k | €81k | €115k | ▲ 41.2% |
| Profit (loss) for the period to be appropriated9905 | €27k | €47k | €56k | €81k | €115k | ▲ 41.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €383k | €410k | €469k | €553k | €627k | ▲ 13.4% |
| Fixed assets21/28 | €135k | €124k | €143k | €188k | €159k | ▼ 15.3% |
| Tangible fixed assets22/27 | €133k | €122k | €141k | €187k | €159k | ▼ 14.6% |
| Land and buildings22 | - | €110k | €102k | €93k | €85k | ▼ 9.1% |
| Plant, machinery and equipment23 | - | €2k | €2k | €5k | €4k | ▼ 22.3% |
| Furniture and vehicles24 | - | €10k | €38k | €88k | €71k | ▼ 20.0% |
| Financial fixed assets28 | €1k | €1k | €1k | €1k | - | - |
| Current assets29/58 | €249k | €287k | €326k | €365k | €467k | ▲ 28.2% |
| Amounts receivable within one year40/41 | €5k | €8k | €17k | €4k | €54k | ▲ 1,391% |
| Trade receivables40 | - | €5k | €15k | €1k | €54k | ▲ 4,179% |
| Other amounts receivable41 | - | €4k | €2k | €2k | - | - |
| Current investments50/53 | €159k | €199k | €199k | €157k | €140k | ▼ 10.7% |
| Cash at bank and in hand54/58 | €82k | €78k | €109k | €202k | €267k | ▲ 32.4% |
| Deferred charges and accrued income490/1 | - | €1k | €2k | €2k | €6k | ▲ 159% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €383k | €410k | €469k | €553k | €627k | ▲ 13.4% |
| Equity10/15 | €216k | €263k | €312k | €374k | €406k | ▲ 8.6% |
| Contributions10/11 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €188k | €234k | €282k | €344k | €376k | ▲ 9.3% |
| Non-distributable reserves130/1 | - | €2k | - | - | - | - |
| Reserves not available under the articles1311 | - | €2k | - | - | - | - |
| Distributable reserves133 | - | €233k | €282k | €344k | €376k | ▲ 9.3% |
| Profit (loss) carried forward14 | €10k | €10k | €11k | €12k | €12k | ▲ 0.1% |
| Amounts payable17/49 | €167k | €147k | €157k | €178k | €220k | ▲ 23.6% |
| Amounts payable after more than one year17 | €142k | €122k | €108k | €132k | €113k | ▼ 14.1% |
| Financial debts170/4 | - | €122k | €108k | €132k | €113k | ▼ 14.1% |
| Amounts payable within one year42/48 | €25k | €25k | €49k | €46k | €107k | ▲ 130% |
| Current portion of amounts payable after more than one year42 | - | €20k | €14k | €22k | €19k | ▼ 15.5% |
| Trade debts44 | €770 | €852 | €24k | €2k | €1k | ▼ 33.6% |
| Suppliers440/4 | - | €852 | €24k | €2k | €1k | ▼ 33.6% |
| Taxes, remuneration and social security45 | - | - | - | - | €3k | - |
| Taxes450/3 | - | - | - | - | €3k | - |
| Other amounts payable47/48 | - | €4k | €11k | €22k | €83k | ▲ 271% |
| Accrued charges and deferred income492/3 | - | - | - | - | €531 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €27k | €47k | €56k | €81k | €115k | ▲ 41.2% |
| + Depreciation and write-downs630 | €29k | €12k | €13k | €25k | €33k | ▲ 33.5% |
| Operating cash flow (approximation) | €55k | €59k | €69k | €106k | €148k | ▲ 39.4% |
| Investment in fixed assets (approximation) | - | €-1k | €-32k | €-70k | €-4k | ▲ 93.9% |
| Change in cash | - | €-4k | €31k | €93k | €65k | ▼ 29.6% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
Financial
Highest result since 2019net €115k ▲41.2%
Operating result €162k, net result €115k, both a record.
30-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
12-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
10-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
10-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-06
Financial
Equity above €200kEq €216k ▲14%
3 profitable years in a row build equity to €216k.
2020
22-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
30-06
Financial
Weakest financial yearnet €19k ▼6.9%
Net result drops to €19k, the lowest in the series; recovery starts the following year.
03-02
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 3 days late
2018
12-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
08-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
10-01
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Etterbeek · 1 establishment unit since 2008
Ground area
553 m²
Building footprint
227 m²
Volume, LiDAR
3,385 m³
Parcel 21363B0338/00A003, Brussels · tallest building 16.8 m, ±5 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
Vrijwilligerslaan 98, 1040 Etterbeek
since 20082.269.955.002
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21363B0338/00A003 | Brussels | 553 m² | 1 · 227 m² | 16.8 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Identification & contact
Identification
Legal formPrivate limited company
Founded03-06-2005
Fiscal year end30-06
Scores and ratios are computed by Checked and are not a credit decision.